NCSU Reaches Agreement with Arena Authority

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RALEIGH — Plans to build a new arena in Raleigh have
cleared another hurdle.

The Centennial Authority approved an agreement Monday with N.C. State
University.
The deal paves the way for the Wolfpack basketball teams and the Carolina
Hurricanes professional hockey team to
share the $132 million arena.

Under the agreement, N.C. State would pay a minimum of $600,000
a year in rent.
But the university would also get a portion of the revenues and the right
to name the arena, which could yield $5 million or more for N.C. State.

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